Yesterday was a really volatile session. In the end, both EURUSD and GBPUSD dropped significantly. The EURUSD even finished the day below the S2 support level. However, both Forex pairs are rising today. From the data front, manufacturing PMI, markit composite PMI and services PMI in September will be published, first in the Eurozone, then in the UK and the US. Anyway, let’s start the analysis:
The EURUSD dropped heavily yesterday. The price finished the session below the S2 support level and 1.17. However, the price is rising today. Right now the bulls are attacking the Pivot Point. If they do it successfully, the price might go up even more and reach the EMA 200 today. But if they fail, the price could fall below 1.68.
The GBPUSD dropped a bit yesterday. The price finished the session at 1.362. Today, it is rising, though. Right now the price is above the EMA 77. If the buyers continue generating sufficient demand, the price might even reach 1.37 today. But if the bears counterattack, the price could fall to 1.36.